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Lithium Americas makes final investment decision on Thacker Pass mine
Lithium Americas announced on Tuesday that it had reached a Final Investment Decision (FID) to construct the first phase for the Thacker Pass Lithium Mine in Nevada. Thacker Pass is a joint project between Lithium Americas, a subsidiary of General Motors in the United States. The first phase of the project should be completed by late 2027. Jonathan Evans, CEO of Lithium Americas, said: "Together we will develop an American-produced lithium supply to reduce American dependency on foreign suppliers for essential minerals." Lithium Americas of Vancouver and General Motors have both contributed $192 million in cash each to the JV. This has allowed it to reach a fully-funded status for the first phase of the project. The U.S. Department of Energy approved a loan of $2.26 billion for Lithium Americas last year to help build the project. The company had also accessed $650 million through its joint venture with General Motors. Thacker Pass will produce enough lithium carbonate for 800,000 electric cars in the first phase. Reporting by Vallari Shrivastava, Bengaluru. Editing by Alan Barona
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GRAINS-Chicago soya beans rise at biofuel coalition meeting
Chicago soybean futures rose Tuesday, ahead of a discussion between the U.S. Environmental Protection Agency and a coalition representing oil and biofuels groups to raise federal mandates on biomass diesel blends. Analysts say that corn futures gained support due to wet forecasts for the U.S. Delta, Ohio Valley and Midwest, while wheat futures grew on the back of reduced acreage, as reported in a U.S. Department of Agriculture (USDA) report on Monday. The Chicago Board of Trade's most active soybean contract settled at $10.34-1/4, its highest level since March 6, and CBOT corn finished up 4-1/2cents at $4.61-3/4, while wheat rose 3-1/2 cents to $5.40-1/2 per bushel. Jim McCormick of AgMarket.net, a founding partner, stated that the news that a newly-formed coalition of oil groups and biofuel groups including the American Petroleum Institute was meeting with EPA representatives on Tuesday drove soybean oil futures higher on Tuesday. The coalition wants to see biomass diesel blend mandates raised from 5.5 billion up to 5.75 billion. McCormick said that the new mandate would represent a dramatic increase from the current 3,55 billion. McCormick said that the forecast of heavy rains in the U.S. Delta region and Ohio River Valley will also support corn production. He said, "It isn't a big problem yet but we won't be planting very quickly in that part of the country." The futures for wheat continued to rise as a result of the USDA's release on Monday of prospective planting data. The USDA's planting forecast for 2025 showed that the U.S. area of wheat would be lower than analyst expectations. McCormick reports that the grain markets are still bracing themselves for President Donald Trump to announce tariffs on 2 April. This prospect continues to raise concerns about retaliation by other countries against U.S. agricultural exports. Renee Hickman reported from Chicago. Reporting in Paris by Gus Trompiz, and Ella Cao, Mei Mei Chu and Mei Mei Chu from Beijing. Editing by Aurora Ellis.
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EnerSys moves production from Mexico to the US
EnerSys, a provider of energy services, announced on Tuesday that it will close its lead-acid manufacturing plant in Mexico due to flooding and move production to a US facility. The announcement coincides with the preparations of U.S. president Donald Trump to impose reciprocal duties on countries that impose tariffs on U.S. products, beginning on April 2, a day he has called "Liberation Day". A pre-tax charge in the amount of $20 million would be incurred in the first half 2025 due to the closure of the Monterrey plant in Mexico, and the subsequent transfer of production from that facility to the Richmond, Kentucky, plant. EnerSys said that the restructuring will result in an estimated annual pre-tax profit of $19,000,000, starting with fiscal year 2027. Shawn O'Connell said, "The transition will allow us to optimize our costs structure, maximize IRC 45X near-term tax benefits, mitigate future risks associated to potential tariffs, while strengthening our commitment to improve domestic industrial security." O'Connell will assume the role as chief executive officer by May. Reporting by Vallari Shrivastava from Bengaluru, editing by Maju Sam
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Trump Administration weighs new coal leasing at North Dakota mine
The Trump administration took a major step on Tuesday in leasing new areas for a North Dakota mine that plans to operate until 2045. Why it Matters The publication of an environmental draft analysis of the new lease areas of North Dakota's Freedom Mine aligns with President Donald Trump’s goal of increasing U.S. fossil-fuel production and reviving coal for electricity production. The United States' electricity supply, formerly dominated by coal, is now only about 16 percent, as natural gas and renewable energy are cheaper. By the Numbers Freedom Mine is owned by a NACCO division and produces between 11.5 to 13.5 million tonnes of lignite annually in Mercer County. The company has requested the lease of tracts covering 1,350 acres, which contains approximately 24 million tonnes of mineable coal. The owner of the mine was not immediately available to comment. Key Context Freedom Mine, which supplies coal to Basin Electric Power Cooperative power plants, first applied for the lease of the new areas in 2019. The company submitted an emergency application that would require a portion coal from the new lease area to be mined in three years. Leases consist of a mix of surface land owned by private and federal owners, and subsurface coal. What's Next? The Bureau of Land Management is seeking public feedback on the proposed leasing until May 2. The Interior Department's Bureau of Land Management, a division, is evaluating a variety of options including leasing less land. The assistant secretary of Interior for Land and Minerals must approve the company's modification to its mining plan. (Reporting and editing by Nichola Grroom)
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China to sell its first green sovereign bond Wednesday
China will finalise the long-awaited global green sovereign bonds on Wednesday. This is expected to mark the beginning of a series that will increase its market share at a crucial time. The signal was sent to indicate that the vehicle was ready Last month Top Chinese Finance Ministry officials laid out the detail at a meeting in London with investors on Tuesday. The 6 billion yuan bond ($825 millions) is scheduled to be listed on the London Stock Exchange. Green bonds have grown to a market value of $3 trillion over the past few years. China's state-run firms have made a significant contribution to this growth. However, international investors have been waiting years for the government to act. Director General Yu Hong of the Chinese Finance Ministry and his Deputy, Xing Chaohong, explained that it will be in two parts – one with a maturity of 3 years and another with a maturity date or deadline of 5 years. Both will have fixed rates. The interest rates are expected to be below 2%, but it depends on the demand during formal sales which will be overseen by eight banks in both China and Europe. The size of China has made it a long-anticipated country to issue a global bond. China's plan was finally revealed earlier this year, after British Finance minister Rachel Reeves and Vice Premier He Lifeng met in Beijing to discuss pragmatic co-operation on financial services. China, the largest emitter of climate-warming gases, has stated that it will peak its carbon dioxide emission before 2030 and be carbon neutral by 2060. The Finance Ministry published its framework for green bonds in February. It was described as an attempt to "attract foreign funds to support low-carbon and green domestic development". Climate Change Mitigation and Climate Change Adaptation were listed as the five main priorities. An investor who attended the meeting on Tuesday said that the money raised will be used to fund the electric vehicle charging networks and national parks of the country.
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Former world leaders call on EU to maintain a firm stance on climate
Mary Robinson, former president of Ireland, said on Tuesday that a group of former leaders from around the world are urging Europe not to let trade wars or defence spending divert attention away from climate change issues. The Elders, the group created by Nelson Mandela as former South African president, will meet with EU and NATO in late this month to discuss ways to soften upcoming corporate climate disclosure regulations to address concerns about competitiveness. Robinson, Ireland's former president from 1990-97, said that she was concerned about the plans, but that the bloc has an opportunity to seize the leadership of the United States on the fast-growing clean technology market and climate policy in general. She said: "The crisis that has arisen in the United States due to a federal retreat from climate science and everything related is an opportunity for Europe, the United Kingdom and the rest of world." It's important that Europe adheres to its principles and sticks to the green industrial policy. International Energy Agency said that the global market for clean technology such as solar photovoltaics and wind turbines, could grow from $700billion in 2023 to over $2 trillion in 2035. This is close to the value of the crude oil market in the world. Robinson warned Brussels to not let the war between Russia and Ukraine, trade wars or anti-climate rhetoric from U.S. president Donald Trump dictate long-term thinking about climate issues. She also said that many businesses across the EU were willing to and able support the green shift. Robinson will join former Norwegian Prime Minister Gro Harlem-Brundtland, international human rights activist Denis Mukwege and others to urge Brussels to take a leadership role in tackling some of the biggest threats to the world. They will encourage the EU to develop a timely climate action plan. The Elders was founded in 2007. They are advocates for peace, justice and human rights, as well as a sustainable world. Former U.N. secretary general Ban Ki-moon, and former New Zealand prime minister Helen Clark are members of the group. Reporting by Virginia Furness, London. Editing by Matthew Lewis
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Four missing US Army soldiers found dead in Lithuania
The bodies of a fourth U.S. Army Soldier, along with three other soldiers, have been discovered, U.S. officials and Lithuanian officials announced on Tuesday. Three other soldiers were discovered dead after rescuers found the armoured vehicles of the four missing soldiers near the border to Belarus. The body of a fourth U.S. Soldier, who was in Lithuania for training, has been discovered, wrote Lithuanian President Gitanas Nuseda on social media platform X. He offered condolences. White House Press Secretary Karoline leavitt confirmed the fourth death. She told reporters during a White House briefing that U.S. president Donald Trump and his Administration were praying for the victims and families. Nauseda thanked all those who "helped find the last soldier missing in such difficult conditions." Rescuers had spent days Digging to recover The M88 Hercules armored recovery vehicle was used by the soldiers as part of a training exercise at Pabrade, where U.S. troops have been rotating in since 2019. Reporting by Stine Jacobsen and Steve Holland in Copenhagen, and Gram Slattery and Mark Porter in Washington. Editing by Gareth Jones and Susan Heavey.
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Mercedes denies that it may withdraw cheaper cars from the US
Mercedes-Benz has denied a report published by Bloomberg News Tuesday, which claimed that the automaker had considered withdrawing its lowest models from the U.S. in anticipation of a 25% additional tariff on imports. "This report is without merit. Mercedes-Benz is committed to increasing sales of its high-end vehicles, a spokesperson for the company said in an email in response to this report. Bloomberg reported that the automaker is considering removing more entry-level cars from sale in order to prepare for tariff contingencies. Experts in the industry have warned that tariffs to be implemented on April 3 will likely lead to higher prices for consumers and fewer models available. There is not enough margin to absorb tariff costs, especially when it comes to more affordable vehicles targeted at first time buyers. Mercedes-Benz executives said on a Monday investor call that they were building up their inventory in the U.S. wholesale and dealer levels to be ahead of the tariffs. They also discussed further mitigation measures. Reporting by Gursimran in Bengaluru, and Victoria Waldersee. Writing by Maria Martinez. Editing by Shinjini Ganuli and Jan Harvey.
United States bets on environment friendly farming; specialists question it is climate friendly enough
President Joe Biden's. administration is offering farmers money for embracing practices. that store carbon in the soil to fight climate change, but. interviews with soil science specialists and an evaluation of. U.S. Department of Agriculture research show doubt that the. technique will be effective.
Farm practices like planting cover crops and lowering. farmland tilling are key to the USDA's plan for slashing. farming's 10% contribution to U.S. greenhouse gas emissions. as the U.S. pursues net-zero by 2050. Ethanol producers likewise. hope those practices will assist them protect financially rewarding tax credits. for sustainable air travel fuel (SAF) passed in the Inflation. Decrease Act (IRA).
However the farming strategies, which will get an additional. moneying increase from Biden's signature environment law, may not. permanently sequester much atmospheric carbon in the soil,. according to 5 soil researchers and scientists who spoke to. about the current science.
Four other soil scientists, and the USDA, stated the practices. can store numerous quantities of soil carbon, however scenarios will. dictate how much and for the length of time.
The White Home referred to the USDA for remark.
A USDA spokesperson stated the adoption and persistent. usage of no-till and cover crops are essential for the sequestration of. carbon on working croplands.
All the experts talked to concurred that no-till. and cover crops can have significant environmental benefits such. as preventing soil disintegration and increasing biodiversity. Yet five. of them revealed apprehension about connecting climate policy and. public money to the practices.
Will it help with environment adjustment? Definitely. Should it serve as an offset for more irreversible and long-lived. pollutants? Absolutely not, stated Daniel Rath, an agricultural. soil carbon researcher at the Natural Resources Defense Council.
The USDA has actually spent $1.3 billion in monetary assistance to. farmers for planting and managing cover crops and $224 million. for carrying out no-or reduced-till considering that 2014, according to. company information. That figure is miniscule compared to overall USDA. costs, however does amount to about 8% of its farm preservation. costs in that period.
If we actually wish to offset or reduce environment modification, we. require to consider various systems, said Humberto Blanco, an. agronomy professor at the University of Nebraska-Lincoln. We. require to consider more aggressive methods.
ALL OF IT DEPENDS
Adoption of cover crops and no-till has actually risen in the past. decade; now, 11% of farms plant cover crops and about 40% usage. minimal or no tilling, according to the most recent USDA. agricultural census.
Under the best conditions, planting cover crops and. lowering tilling can be positive for the climate, scientists. told .
If a farmer is utilizing cover crops and getting excellent development in. the fall and spring, and they're doing very little tillage, on the majority of. soils, they're going to add soil carbon over time, stated Robert. Myers, a teacher at the University of Missouri and regional. director of extension programs at a USDA research website.
A USDA representative said the benefits mostly depend upon. elements like growing environment, soil type, crop rotation, and. other elements.
Five other experts told that no-till farming. frequently leads to a greater concentration of carbon in the soil. surface but a decline deeper in the soil profile, resulting in. a net absolutely no gain.
7 specialists stated the environment benefits of no-till and cover. crop techniques can be minimized or reversed if farmers plow. their fields once again.
Even if you do develop some additional carbon under reduced. tillage, if you then do a conventional plowing, the proof. appears to be that you quite quickly lose the carbon that you've. been building up, said David Powlson, senior fellow at. Rothamsted Research, an agricultural research study organization.
Just 21% of farmers report using no-till continually,. according to the 2022 farm census, and about a 3rd alternate. lowered tilling with conventional tilling, revealed a 2018 USDA. report.
A USDA requirements record for no-till says loss of. carbon in the soil is directly tied to the quantity and strength. of the tilling, and other elements like soil wetness and. temperature.
When it comes to the SAF tax credit, the Treasury Department is. anticipated to finalize information in coming weeks. The $1.25 per. gallon credit is focused on manufacturers who prove their fuel can cut. emissions 50% from those of straight jet fuel.
The program will likely require ethanol manufacturers to source. corn from farmers utilizing cover crops, lowered tilling, or. effective fertilizer application, sources told .
The USDA decreased to talk about what the fertilizer. application would entail.
The ethanol market hopes to account for a substantial. part of the 35 billion gallons of SAF the Biden. administration has promised to produce by 2050.
The individual retirement account consists of some $19.5 billion for farm environment. programs over ten years, and in 2023, about $52.5 million of that. cash went to cover crops and no-till.
(source: Reuters)